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Wed May 29 2024

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UK and UAE on track for £12bn in trade

6 Nov 12 Plans to increase trade between Britain and the UAE to £12bn by 2015 are on track, businesses told ministers from both countries yesterday.

The UK-UAE Business Council met yesterday in Dubai, bringing together business leaders to drive commercial ties between the two countries.

UK companies are exploring opportunities to participate in the UAE’s £1.4 trillion of construction and infrastructure development programme and the development of its healthcare sector which will be worth £7.4bn by 2015. The UAE is also a major investor in the UK, with over £5bn invested in the energy, infrastructure and regeneration sectors throughout the regions.

Inaugurated one year ago in Abu Dhabi, the Business Council is co-chaired by His Excellency Nasser Ahmed Alsowaidi, chairman of the Abu Dhabi Department of Economic Development and Samir Brikho, CEO of AMEC. The UK-UAE Business Council was previously known as the UK-UAE CEO Forum.

UK minister for Trade & Investment Lord Green said: “The UK is committed to making it quicker and easier for British businesses and Gulf states to do business together. Both countries are targeting a 60% increase in trade from 2009 levels, to reach £12bn by 2015. I was delighted to hear about the progress that the Business Council has made in deepening the ties between the UK and the UAE.”

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